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Transbay Transit Tower Sets SF Land Value Record: $190 Million

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The San Francisco TransBay Terminal Center set a record for a land sale in the City By The Bay this week. According to Zennie62, on Monday, the Transbay Joint Powers Authority (TJPA) Board of Directors finalized the agreement to sell TJPA property to Hines Corporation, paving the way for construction of the landmark Transbay Transit Tower. The State of California donated the Tower site to the TJPA for construction of the 61-story Tower, which will contain 1.4 million square feet of office space and serve as a beacon for the City’s Transit hub in the heart of downtown San Francisco. 250px Transbay Terminal Tower I 150x150 Transbay Transit Tower Sets San Francisco Land Value Record Hines has agreed to purchase the 50,000 square foot Tower site, located directly north of the future Transit Center fronting on Mission Street, for over $190 million. On a per square foot basis, the sale price for the Tower site is the highest paid for a large development property in San Francisco history. More at Zennie62.com: Transbay Transit Tower Sets San Francisco Land Value Record

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